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DomainCavern  >  Trading Domains  >  Escrow

Escrow Services

If a person buys or sells a domain (most likely to somebody else that they have met only on online), there is lots of potential for things to go wrong:
  • What happens if the seller transfers his domain, but the buyer never sends the money?

  • What happens if the buyer sends this money, but the seller never transfers the domain?
In this kind of situation, if the buyer or seller is lucky, they might be able to go to court to recover their losses - but - (a) going to court is likely to be expensive, and (b) may be extremely difficult if (for example) the other party is in another country or concealed their true identity.

But wouldn't it be better to avoid the whole dispute in the first place?

Escrow services are a solution to this type of problem, and are designed to facilitate domain name trading processes. What they do is act as a trusted intermediatory, usually:
  • The seller transfers his domain to the escrow service.

  • The buyer transfers his money to the escrow service.

  • When the escrow service has both the money and the domain name, the domain is then transfered to the buyer, and the money transfered to the seller.

  • The escrow service usually makes their money, by taking a commission on the transaction.
Of course, the escrow process can only work if the escrow service is itself reliable, and trusted by both buyer and seller.

If you are looking for an escrow service, some of the domain auction sites, either run one or may be able to recommend one.


 		  
 

 
   
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